Driveway Software
Driver-safety Scoring and Usage-based Insurance Solution
Company Overview
Snapshot
Founded in July 2011 by Igor Katsman, Driveway Software operated with 1-10 employees. The company raised a total of $11.63 million across four funding rounds from five investors. Driveway Software was acquired by Earnix in July 2021, marking a significant exit in the automotive and insurtech sectors.
Business overview
Driveway Software provides a smartphone-deployed, cloud-based technology designed for automotive insurers. Its core product offers comprehensive driving data to enhance pricing intelligence, aiming to reduce loss ratios and increase profitability for insurers. The company operates within the Automotive & Mobility Technologies and Fintech & Insurtech sectors, leveraging artificial intelligence and machine learning to serve markets in Israel and the United States.
Strategic signal
In September 2019, Driveway Software partnered with Zurich Insurance Company Ltd to launch a smartphone-based telematics platform for new mobility solutions. This collaboration signaled a strategic validation of Driveway's technology by a major insurance provider, indicating its potential to power innovative usage-based insurance offerings and expand its market reach within the telematics space.
Log in to access full profile ›Company Intelligence Q&A
- What was a significant exit event for Driveway Software?
- Driveway Software was acquired by Earnix in July 2021. The terms of the acquisition were not disclosed.
- When did Driveway Software launch its smartphone platform for usage-based insurance?
- Driveway Software launched its smartphone platform for the Usage-Based Insurance market in September 2013.
- Which companies partnered with Driveway Software to offer usage-based insurance services?
- In February 2015, Driveway Software partnered with Pinnacle to offer usage-based insurance services to insurers.
- What was the nature of the partnership between Driveway Software and Zurich Insurance Company?
- In September 2019, Zurich Insurance Company Ltd and Driveway Software launched a smartphone-based telematics platform to power new mobility solutions.
- Which investor participated in Driveway Software's Seed funding round in August 2013?
- Kernel Capital and IMI.VC participated in Driveway Software's Seed funding round in August 2013.